Brazil targets Asian e-commerce giants, local companies in tax push

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BRASILIA : Brazil will soon unveil tax measures, including a crackdown targeting Asian e-commerce giants and curbs on some company tax benefits, as it looks to raise more than 100 billion reais ($20 billion), Finance Minister Fernando Haddad said on Monday.The e-commerce measures come in response to compl

BRASILIA : Brazil will soon unveil tax measures, including a crackdown targeting Asian e-commerce giants and curbs on some company tax benefits, as it looks to raise more than 100 billion reais , Finance Minister Fernando Haddad said on Monday.

He later told journalists that combating the practice, which Haddad called"smuggling", should generate 7 billion reais to 8 billion reais in new revenue for the government. According to Haddad, the framework, which also depends on booming revenue, will be supported by two other measures that the government intends to submit in the next few days.

 

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